Kenya USA Diaspora SACCO Launched at the 2012 Kenya Diaspora Conference-USA
The Kenya USA Diaspora SACCO was officially launched last evening at the ongoing 2012 Kenya Diaspora Conference - USA in Arlington, Virginia. Speaking at the launch, Frank Kioko the SACCO's chairman, said the SACCO will enable Kenyans living in the United States to have access to capital and fully participate in emerging markets in Kenya as well as the re-configured East African community.
The SACCO is registered by Kenya's Ministry of Cooperative Development and Marketing and plans to launch a chapter in every state in the US to make sure every Kenyan living in the US has access to a more promising and affordable credit for development in Kenya at low interest rates.
According to the most recent Central bank report, Diaspora remittances this year are growing at a rate of 43% compared to last year and out of these only less than 50% go to capital investments. The SACCO intends to harness these individual small streams of remittances into a might river of collective opportunity and target them into real investment projects which we believe will attract even higher remittances.
More information on the SACCO including how to become a member can be found on the SACCO's facebook page.
UPDATE [10.09.2012] - The SACCO's website is www.kenyadiasporasacco.com.
Open a website but not social media page, this is financial dealings.
Are we supposed to do this via Facebook, be serious and get a professional website.
This is a great idea who's time has come. Diasporan's need to look into this and become members. Folks back in Kenya are members of Sacco's - just think how much money you'd have saved up since you came to the US.
For more info on the SACCO and to join go to www.kenyadiasporasacco.com.
We are glad to hear about the Sacco. We are a registered Kenyan company dealing in general consultancy. We request you to encourage Kenyans living abroad to invest back home. We are able to help them in every issue including, registrations, research, marketing, monitoring of projects, supervision and followups among others. Kindly check out our website on www.bridgelinkinternational.com. Thanks and may God bless kenya
Commendable try. C for effort. I'm in banking, and i'm not impressed, especially with the mission, core value, statement. We could do better. Although, its an ok start, i'm not quite sold. $60 membership fee...are you serious? Contact me, i'll give you better direction.....
The main goal is to mobilize savings and provide Kenyans with affordable credit for development at low interest rates.
Lets register, become members and part of this great innovative and transformative idea. visit www.kenyadiasporasacco.com.
Mr.Frank, lets be frank, this idea is not that innovative, and judging from how its appearing to be, i'm wondering whose lives it will transform. The whole idea is great but its implementation is a bit wanting, and starting to look like transformative to 'the select'.
We would really appreciate if you can give us a better way to implement it. The beauty about Sacco's is that member's voice counts. If you don't mind visit our website www.kenyadiasporasacco.com and drop us an email on the best way you think we can make it better. You never know, your idea could be the best kept secret for this Sacco to grow and grow good.
This looks like a one-woman one-zungu show. Why haven't we heard of you since 2005? May be a good idea....but the kawa people will do better with a SACCO....a well intentioned, managed SACCO i.e.